Pakistan's interim PM says Saudi Arabia to invest $25 billion over next five years

Labourers take nap on the sacks of grains and sugar, after offloading from a supply truck, outside shops at the wholesale grain market in Karachi, Pakistan July 20, 2023. REUTERS/Akhtar Soomro/File Photo

ISLAMABAD (Reuters) - Saudi Arabia will invest up to $25 billion in Pakistan over the next two to five years in various sectors, Pakistan's caretaker Prime Minister Anwaar-ul-Haq Kakar said on Monday, adding his government would also revive a stalled privatisation process.

The South Asian nation is embarking on a tricky path to economic recovery under a caretaker government after a $3 billion loan programme, approved by the International Monetary Fund (IMF) in July, averted a sovereign debt default.